The crash in lab-grown diamond prices. Platinum is looking undervalued.
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Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. In this column, JWR also covers hedges, derivatives, and various obscura. This column emphasizes JWR’s “tangibles heavy” investing strategy and contrarian perspective. Today, we look at the crash in lab-grown diamond prices. (See the Commodities section.)
Precious Metals:
The NYSE stock market is slumping, and the crypto markets seem uncertain. But gold and silver are still looking quite bullish. These were the opening numbers for the spot markets on Wednesday:
I must reiterate that platinum is looking undervalued. I consider it a strong “buy.” – JWR
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At Gold-Eagle.com: Could the Shift of Gold West to East Set the Stage for a New Gold-Backed Currency?
Economy & Finance:
Republic First Bank Seized By Regulators—First Bank Collapse Of 2024.
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File this one under “Suicidal Tendencies”: California assembly advances universal healthcare in bill that could double taxes.
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Reader D.S.V. sent this: Hertz loses another $200 million from its EVs.
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Gavin Newsom Admits: California Still Faces Blackouts.
Commodities:
The lab-grown diamond boom is over. Here is a quote:
“The man-made diamond boom is over, and prices for ultra-trendy lab-grown diamonds are set to tumble this year, industry veterans say.
Paul Zimnisky, a leading diamond analyst, foresees jewelers scaling back their business in lab-grown diamonds while ramping up their focus on natural diamonds over the next year. In fact, most jewelers aren’t even bothering to stock lab-grown diamonds in inventory, and are only purchasing them on consignment, he told Business Insider.”
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H.L. sent us this Breitbart link: Dave Walsh: Electrical Grid Operators Are ‘Sounding Alarm’ over EPA Rules.
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Despite a few typos, this is a useful background piece, published in 2018: LNG vs. LPG – What’s the Difference?
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From OilPrice News: Traders Boost Bullish Bets on European Natural Gas Prices.
Inflation/Deflation Watch:
Reader C.B. suggested this piece at Fortune: The economy seems weaker than advertised and inflation is still running hot—it’s the ‘worst of both worlds’.
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Prices rise sharply again, PCE shows, and signals progress on slowing inflation stalls.
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A surprising suggestion from the perma-bull pseudo-journalists at CNN: With inflation back up, the long-predicted storm clouds in the economy may actually be forming.
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Reuters reports: Fed to hold rates steady as inflation dims hopes for policy easing.
Forex & Cryptos:
Dollar slips before U.S. Fed meeting statement.
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At Currency Thoughts: May Day and the FOMC. A pericope:
“While market attention today will be directed to Fed Chairman’s likely explanation for a need for time and more patience before interest rates can start to be lowered, developing economies have cut their rates. Those in Armenia and Kyrgyzstan announced reductions of 25 basis points to 8.25% and 200 basis points to 11.0% earlier this week. It’s happened again today in Azerbaijan and Colombia.”
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$2 trillion asset manager BNY Mellon discloses bitcoin ETF exposure.
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Crypto Mixer Samourai Wallet’s Co-founders Arrested for Money Laundering.
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Solo bitcoin miner hits ‘lottery’ with successful block.
Tangibles Investing:
Florida Homesellers Slashing Prices as Inventory Surges.
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Empty S.F. office tower formerly valued at $62 million sold for $6.5 million.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. Thanks!
